Commodity News
HeadLine : Swiss franc holds gains, yen steady as traders eye Iran
Date : Jan 7 2020
The yen, another safe-haven currency, pulled back from a three-month high versus the dollar, but sentiment remains fragile due to the increasing worries about armed conflict between the United States and Iran. Highlighting the concerns, the U.S. currency nursed losses against sterling and the euro as the emergence of a new geopolitical flashpoint led some investors to reassess their tolerance for risk at the start of the new year. Against the dollar, the Swiss franc CHF=EBS was quoted at 0.9689 following a 0.5% jump on Monday toward its highest level in more than a year. The dollar index .DXY against a basket of six major currencies stood at 96.650, following a 0.2% decline on Monday. This came after Friday’s drone strike in Baghdad ordered by U.S. President Donald Trump that killed Iranian military commander Qassem Soleimani, widely seen as Iran’s second most powerful figure behind Supreme Leader Ayatollah Ali Khamenei. The U.S. government says Soleimani was actively developing plans to attack U.S. interests in Iraq and the Middle East. Iran’s leaders have promised to avenge the killing.

Source : Investing

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